SembMarine and its larger rival Keppel Corp have been hit by the 60 percent drop in oil prices since mid-2014.

SembMarine's net order stood at S$9.2 billion versus S$9.7 billion in the preceding three months.

Turnover for rigs and floaters was $956 million for the first half of 2016, a 45 percent year-on-year decline from the $1.7 billion booked in the previous corresponding period. Key deliveries included an accommodation semi-submersible vessel to Prosafe, the Ivar Aasen process, drilling and quarters topsides to Det noske olijeselskap and the Maersk Highlander F&G JU2000E jack-up rig to Maersk.

In July 2016, Sembcorp Marine also delivered the Noble Lloyd Noble jack-up rig to Noble Corporation. Receipts from this delivery and other major projects totalled more than S$900 million.

Excluding the orders for drillships from rig leaser Sete Brasil, which has filed for bankruptcy protection, SembMarine's backlog of net order stood at S$6 billion.

"Several rigs due for delivery in our order book have been deferred. We are in discussions with customers to progress these contracts," the company said in a presentation.

The company expects total capex for fiscal year 2016 to be less than half that of the previous year. It cuts its interim dividend to 1.5 Singapore cents a share, compared with four Singapore cents a year ago.